(Vibiznews - FX) - Euro Index in the spot market (22-02, 03:25 GMT) slides -14 pips, or about - 0.13% from opening price (00:00 GMT). It is -14 pips away from highest value today and running at 104.03. The index shows weakened pattern against other major currencies.

Vibiz Consulting Analyst said market signaled doubts on Europe’s economic outlook despite Greece will certainly receive a bail out fund. It may related to the severity of the policy to be carried out by Greece because of the program.

Greece is required to implement austerity measure which means cuts in pensions, the minimum wage, health-care and defense spending, as well as layoffs of state employees and asset sales.

European Stock futures also not shows an encouraging signals, DJ EURO STOXX 50 futures closed down about - 0.23% at 2544.00, CAC 40 10 EURO also closed down - 0.19% at 3465.00 , and DAX futures was down about -0.42% at 6916.00.

Euro is expected to respond to manufacturing index report which may show an improvement to 49.4 and services index report which expected to improved to 50.7.

(Indra Yudistira/IYD/vbn)
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